State Bank of India (SBI) has announced about launching a scheme ‘festive dhamaka’ where personal loans of up to Rs 20 lakh can be taken with zero processing fee. The scheme is slated to remain active till March 31, 2024.
Given below complete details of the scheme:
Eligibility:
- Minimum Net Monthly Income: Rs 15,000/-
- Age: 21-58 years
- Employees working with Central/ State/ Quasi Governments, Central & State PSUs, Corporate (Private & Public Ltd.) and Educational institutions of National Repute
- Minimum service of 1 year
- EMI/NMI Ratio less than 50%
- Individuals having Salary Account with any other Bank
- Loan Amount: Minimum: Rs 24,000 and Maximum: Rs 20,00,000 / 24 times NMI
Features:
- Low interest rates
- Provision for second loan
- Minimal documentation
- Loans up to Rs 20 lakhs
- Interest on daily reducing balance
- No hidden costs
- No security, no guarantor
Documents required:
- 2-passport size photographs
- Latest month Salary Slip
- Income Tax Return (To be uploaded on CLP)
- Bank Account Statement of last 6 months (To be uploaded on CLP)
- Proof of Identity & Current/ Permanent Address, as per Bank’s KYC guidelines
